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China Local Govts to Begin Issuing CNY1.77 T Bonds: Journal

CHINA PRESS
MNI (Sydney)

China's local governments will kick off the issuance of special bonds this month after the Ministry of Finance disbursed CNY1.77 trillion out of a total CNY3.65 trillion in quotas set this year, the China Securities Journal reported. Funds raised by the bonds will largely be invested in infrastructure, the newspaper said citing analysts. Fiscal spending on improving social security, healthcare and stabilizing the job market grew rapidly in the first two months, as revenue jumped 18.7% y/y as the economy rebounded from last year's pandemic, the newspaper reported citing He Daixin, head of fiscal research at the National Academy of Economic Strategy.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com

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